Published on 11/25/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $465,000 contingent interest autocallables linked to Dow, Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., Nov. 25 – JPMorgan Chase Financial Co. LLC priced $465,000 of autocallable contingent interest notes due Nov. 25, 2022 linked to the least performing of the Dow Jones Industrial Average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6% per year if each index closes at or above its interest barrier, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first, second, third and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its trigger value, 65% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Dow industrials, Nasdaq-100 and Russell 2000
|
| Amount: | $465,000
|
| Maturity: | Nov. 25, 2022
|
| Coupon: | 6% per year, payable quarterly if each index closes at or above interest barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger value, in which case 1% loss for every 1% that least-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first, second, third and final ones
|
| Initial levels: | 27,766.29 for Dow industrials, 8,265.618 for Nasdaq-100 and 1,583.962 for Russell 2000
|
| Interest barriers: | 19,436.403 for Dow industrials, 5,785.9325 for Nasdaq-100 and 1,108.7734 for Russell 2000, or 70% of initial levels
|
| Trigger values: | 18,048.0885 for Dow industrials, 5,372.6517 for Nasdaq-100 and 1,029.5753 for Russell 2000, or 65% of initial levels
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.85%
|
| Cusip: | 48132FQ25
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
